StockMarketWire.com - Property investment and development company Henry Boot reported a fall in half-yearly profit as revenues slipped lower property development activity.

For the period ended 30 June 2019, pre-tax profit fell 8% to £24.1m and revenue fell to £189.0m from £196.2m a year earlier.

Revenues from increased construction activity and strategic land sales were offset by lower property development activity as the £333m TECA contract moved towards completion, the company said.

The company declared a 16% increase to the interim dividend to 3.70p, up from 3.20p a share last year.

'(W)e continue to trade well and in line with the board's expectations for 2019 and, at this early stage, and subject to an economically acceptable Brexit resolution in October 2019, our expectations for 2020 remain unchanged,' Henry Boot said.

Story provided by StockMarketWire.com

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